Korro Bio (NASDAQ:KRRO) Shares Down 4.1% After Insider Selling

Korro Bio, Inc. (NASDAQ:KRRO) shares traded down 4.1% on Friday following insider selling activity. The stock traded as low as $76.39 and last traded at $76.73. 62,106 shares were traded during mid-day trading, a decline of 1% from the average session volume of 62,645 shares. The stock had previously closed at $80.01.

Specifically, CFO Vineet Agarwal sold 10,216 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $78.26, for a total transaction of $799,504.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KRRO shares. William Blair began coverage on Korro Bio in a research note on Wednesday, August 14th. They set an “outperform” rating and a $180.00 target price on the stock. HC Wainwright lifted their price target on shares of Korro Bio from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Korro Bio in a research note on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $138.00.

Korro Bio Trading Up 0.0 %

The company has a 50-day moving average of $42.25 and a 200 day moving average of $47.55.

Korro Bio (NASDAQ:KRRO) last announced its earnings results on Tuesday, August 13th. The company reported ($2.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.04). On average, analysts forecast that Korro Bio, Inc. will post -10.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Korro Bio

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in Korro Bio during the second quarter worth $649,000. Rhumbline Advisers acquired a new position in Korro Bio in the 2nd quarter valued at $279,000. Atlas Venture Life Science Advisors LLC raised its stake in Korro Bio by 1.6% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 1,137,149 shares of the company’s stock valued at $38,515,000 after purchasing an additional 17,857 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Korro Bio during the 2nd quarter worth approximately $28,000. Finally, Tri Locum Partners LP bought a new stake in shares of Korro Bio during the 2nd quarter worth $2,419,000. 13.18% of the stock is owned by institutional investors.

Korro Bio Company Profile

Korro Bio, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of genetic medicines based on editing RNA for the treatment of rare and highly prevalent diseases primarily in the United States. Its lead product candidate is KRRO-110 which is in preclinical trials for the treatment of Alpha-1 Antitrypsin Deficiency (AATD).